Electric Hot Water Heater Cost To Run

Annual energy costs are based on a melbourne household with the stated average daily hot water use.

Electric hot water heater cost to run. Water heater operating cost comparison tank technology fuel type energy source uef uniform energy factor annual operating costs standard 50 gallon gas storage tank natural gas 0 60 309 standard 50 gallon gas storage tank propane 0 60 745 standard 50 gallon electric storage tank electricity 0 95 626 tankless technology fuel type energy source uef uniform energy factor annual operating. Most water heaters include a label listing the annual. Which costs more in the long run. Installation costs for an electric heater are 700 to 1 000 while the cost to install a gas heater ranges from 1 000 to 2 000 depending on whether you have an existing gas line and vent.

If your current gas line needs to be extended or you do not have a gas line expect to pay more for the cost of that labor. An electric hot water heater ranges in costs from about 300 to 700 while a gas heater ranges from 400 to 800. For gas instantaneous and gas boosted solar water heaters the running costs take the electricity use into account. Hot water immersion heater elements are usually rated at 3 or 6 kilowatts kw.

It has a higher recovery time and is cheap to heat water in the long run. A gas water heater with a tank has an average cost between 400 and 1 000 for the unit and between 500 and 700 for installation. Electric immersion water heater running costs calculator. Generally speaking a gas water heater will cost less per month than an electric model since natural gas prices tend to be lower than the cost of electricity.

A tankless gas water heater has an average cost between 800 and 2 000 for the unit and between 1 000 and 1 500 for installation. Figuring out the annual operating cost of a water heater involves consideration of the heater s efficiency and the cost of the fuel needed to run it. Electric water heater operation costs. Electricity tariffs are based on a general or peak rate of 31 9c kwh and an off peak rate of 20 9c kwh.

The electric water heating system will cost you more in the long run. Base model has an efficiency that just meets the national minimum standard for gas and electric water heaters. Lifetime energy cost is the sum of the discounted value of the annual energy costs based on assumed water heater life of 13 years. Hot water cylinders tanks come in many shapes sizes and capacities ranging from 40 to over 400 litres in larger homes.

Future electricity price trends and a discount rate of 3 2 are based on federal guidelines. A 50 gallon 5 500 watt water heater with a 90 ef and an electricity rate of 16 per kilowatt hour will cost 781 to operate each year. 224 for gas you would save 214 per year using gas although the exact numbers you see would depend on all the other variables in play such as the.